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November 23, 2021

Munich Trial Day #1 – Jacki Fitelzon plead guilty; agreed to a 78+ months prison time but …!

On day #1 of the Munich Trial, the 44-year old Israeli Jacki Fitelzon offered a guilty plea including a full and comprehensive confession in exchange for a moderate sentence. Prosecutor and the defense attorney agreed on a sentencing between 78 to 84 months prison time. The final decision is up to the judge. In addition, the defense attorney offered that all the claims of the victims represented by EFRI would be recognized. The prosecutor started with his questions before the trial was adjourned to next Friday.

November 14, 2021

Fighting cybercrime – Next trial in the ‘Wolf of Sofia’ Case starts!

Israeli Gal Barak is a nice and funny guy in private. But yet his business is scams and online investment fraud. He was one of the cybercrime organization E&G Bulgaria principals and was sentenced to four years in prison by a court in September 2020. He was the Wolf of Sofia! Remarkably friendly sentencing given the alleged €200 million his victims' losses amounts to. His Israeli lieutenants Tal-Jacki "Jacki" Fitelzon and Kfir Levy, are currently in pre-trial detainment in Germany. The trial against "Jacki" will start on November 22, 2021, in Munich. Others will follow suit. Another update!

October 12, 2021

Prosecutors filed the indictment against Israeli cybercrime lieutenant Jacki Fitelzon

We already reported a few weeks ago about the upcoming indictment of Israeli Tal-Jacki Zecharia Fitelzon. The 44-year-old guy was a lieutenant of the cybercrime organization E&G Bulgaria of Gal Barak, the "Wolf of Sofia." The latter was sentenced to four years in prison in Vienna in September 2020. The Central Office Cybercrime Bavaria (ZKB) has filed charges against Fitelzon for defrauding 335 German victims of approximately €8.7 million. Fitelzon must now face a trial in Munich. Further charges surrounding E&G Bulgaria will follow.

May 12, 2021

Vienna Cybercrime Trials – Gal Barak charged with giving false testimony and the Israeli fraud elite!

Gal Barak was sentenced in the Vienna Cybercrime Trials as one of the masterminds behind the cybercrime organization E&G Bulgaria to four years in prison and millions in restitution payments for investment fraud and money laundering. His Bulgarian wife Marina Barak faces the same charges and is currently on trial. Gal Barak gave false testimony at the trial of his wife and was consequently charged by the prosecution for that. As private prosecutors, the EFRI lawyer and its principal Elfriede Sixt accompany the trials representing the victims' voice!

March 18, 2021

Vienna Cybercrime Trials – Contempt of Court, no remorse, and no more answers!

The second day in the trial against Marina Barak (previously Marina Andreeva), the former CFO of the Israeli-Bulgarian cybercrime organization E&G Bulgaria was being held today. The judges continued their questioning. Moreover, her husband, Gal Barak, was also scheduled to testify. He was already sentenced in September 2020 as principal and CEO of E&G Bulgaria to four years in prison and is currently in prison in Austria. In the run-up, Gal Barak had unpacked and accused his former partners and employees like Ilan Tzorya or Boyan Popov.

September 2, 2020

Vienna Cybercrime Trials – The implications of the Gal Barak sentencing

The judge in the Vienna Cybercrime Trials sentenced Gal Barak, the Israeli principal of the cybercrime organization around E&G Bulgaria to four years imprisonment. Without probation. In addition, €2.5 million were seized and confiscated and are available for restitution payments to Austrian victims. This Austrian indictment was only the first step in the fight of the EU authorities against Barak and his organization. The indictment against his wife Marina Barak has already been served. Further indictments and convictions will follow.

August 2, 2020

Vienna Cybercrime Trials – The Political Implications of this landmark Court Case for the EU

The Vienna Cybercrime Trials against Gal Barak, the alleged Israeli principal of the cybercrime organization around E&G Bulgaria have a political dimension in several respects. Let us start with the light political dimension on Facebook. There we could not promote the last post about the Vienna Cybercrime Trials, because the article mentioned Barak's many political contacts. Therefore, Facebook classified the article as political election advertising and rejected the application. That's the more funny side of this case.

August 2, 2020

Vienna Cybercrime Trials – The Political Implications of this landmark Court Case for the EU

August 2, 2020

Vienna Cybercrime Trials – The Political Implications of an important Court Case for the EU

July 30, 2020

Vienna Cybercrime Trials – First Witness Day and Witness Bribery

Today the third day of the Vienna Cybercrime Trials against the Israeli Gal Barak took place in Vienna. The prosecutors charge Barak of being the principal of the cybercrime organization E&G Bulgaria which operated a worldwide scam broker and money-laundering network with big fraud brands like XTraderFX, SafeMarkets, Golden Markets, CryptoPoint or OptionStars. The verdict is expected in early September 2020. Until then, several more days of hearings will take place. Today, many witnesses have been heard. In parallel, a friend of Baraks' tried to bribe a potential witness to testify in his favor.

July 10, 2019

SafeMarkets – A forensic analysis of scheme, cash flows, and payment services providers

In February 2019, the European authorities executed a multi-jurisdictional enforcement action against the cybercrime organisation around the Israeli Gal Barak, his E&G Bulgaria and his..

December 19, 2018

SafeMarkets Warning: Unauthorized Payment Services Providers Involved

There have been numerous warnings from official supervisory agencies against the illegal broker websites operated by Israeli fraud artist Gal BARAK. Recently, the UK Financial..